Cable Update (GBPUSD)

GBPUSD closed @ 15805 which was BELOW the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was 10 pips from Precise Trader's Hrly Level. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 15725 holds and Daily Trend is Sideways Up while 15540 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within the Prior two Day's Range but the Price Closed unchanged towards the Close which signifies a Choppy session with some Weakness. The MA is suggesting a Choppy Session and the Oscillators are suggesting Bearish but mixed. The Hourly Trend has been in a Range Trading with no Price Target until the break and the Patterns are suggesting a Choppy session until the Break, 15745-25 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the Price breaks out of Zone 1 levels.

lows = confluence of the daily pivot, 76.4% 5780-5875, that previous 1hr swing hi zone = prev res = potential rbs and mni saying demand toward asain lo of 5798 (5803bid seen in current drop) ...all this said it is struggling to make any real upside progress at the moment...

G/L

master4forex now on ignore... please stop posting

whatt???..why u closed ur short so early??..still didn't reach 1.5700 area..

1hr closes as a pinbar

G/L

overcome 1.5835 and train will leave the station, imo
but i feel there is still a bit of uncertainty cause of Posen´s fart

atm of writing happened

As soon as the hourly closes there's always a small pop or drop in price action..

Hello everybody,

1.5800 hold, now 1.5840 is good to sell?
First target 1.5800

what do you think?

You can't stop him posting, it is a public forum, but you did do the next best thing. Trolls are just part of forum life, but eventually when everyone ignores them, they will just slip away, back into their dark and lonely lives.

Initially there was some entertainment value, but repeating ad nauseam becomes very boring. Did you know... there is one born every minute

yep good for sell

http://pics.livejournal.com/louderback/pic/000r1289

hi mate..just MHO..don't judge where is the max/min point until we got a confirmation..we now at resistence area and could go higher than this..or mybe we will go down..huhu..confirmation for short still don't appear..ur stoch also is pointing to upward from overbought level..so be careful..i'm also still new and still learn..hope we can be succes from our experience

HaaahAAA LOL

Violent fluctuations seen yesterday, jumping to 1.5894 then dropping hard in a matter of 3 hours to 1.5718 is most probably a play to hit the largest number of stops on both sides, before initiating a large move. Technically speaking, breaking 1.5871 yesterday is definitely a positive sign, indicating strength. It was the second positive sign after breaking 1.5728 last week. Today, there is a notably important resistance at 1.5880, this level could give the green light to moving higher, or decline this attempt. We believe that breaking this level or failing at it is the single most important factor determining the short term direction. If we break 1.5880, the Pound will not settle for less than 1.60 seen for the first time in months! And may be later 1.6056. On the other hand, failure here will give the Dollar a chance to breathe, and go back down to test 1.5838. If broken, the Pound will suffer a downward correction, targeting yesterday’s low first, then the very important Fibonacci level 1.5651.

http://img543.imageshack.us/img543/3493/gbpchartr.png

Support:
• 1.5838: important intraday level.
• 1.5718: Yesterday’s low.
• 1.5651: short term Fibonacci 61.8% support.

Resistance:
• 1.5880: important intraday level.
• 1.6000: psychological level.
• 1.6056: Jan 7th high.

Resistance :

1) 1.5823
2) 1.5827

Support :

1) 1.5806
2) 1.5785
3) 1.5759
4) 1.5717 ( he, he...funny enough my target for today ;=) )

http://img7.imageshack.us/img7/4530/dailygu.jpg

Price remains within the big 4hr bearish candle formed from the drop from 5895-5718 yesterday....1hr forming some kind of pennant thingy atm ? Intraday sentiment is mixed...overall bullish probably remains...Price has reached 50% of the 5875-5803 down move this morning @ the pullback Hi off 5803

I'm not looking for cricket score returns from trades in a market like this...just high probability.

G/L

hi, thanks for the reply. you can never be sure about anything on forex but I like to have certain plan before trading I don't trade on pivot points, I just use them as a confirmation of short-term trends. cheers and good luck

http://www.planetbears.com/members/g...button-002.jpg

Please, I am not trying to be rude, but the people that keep reposting master4forex's posts are giving him reason to keep posting.

Please stop.

I see that you like feeding the trolls. Nuff said.